Arts Optical International (HKG:1120) expects an attributable profit of between HK$8 million and HK$20 million for the year 2024, down from HK$51.3 million a year prior, a Tuesday bourse filing said.

The eyewear company attributed the anticipated decline in profit mainly to a lower gross profit ratio, a decline in share of profit from the associate, higher staff costs and promotion and exhibition expenses, and a substantial fair value loss on the revaluation of investment properties.